During an expanded government meeting, President Kassym-Jomart Tokayev outlined the primary tasks for the cabinet of ministers in the near future, as reported by a correspondent from the Kapital.kz business information center. He identified economic diversification as the first task.
The head of state presented data on the implementation of investment projects. In 2024, there were 180 projects in the manufacturing sector with a total value of 1.3 trillion tenge. As a result, the sector experienced nearly 6% growth, marking the highest figure in the last 10 years. This positive trend should be solidified and made irreversible.
“Another critically important issue is attracting investments into the economy. According to UN data, Kazakhstan is performing quite successfully in this regard. An Investment Headquarters has been established for the prompt resolution of investor issues. The Headquarters' activities have accelerated the implementation of specific projects by eliminating various bureaucratic barriers and legal conflicts. However, the main task is not only to address 'point problems' but, above all, to systematically improve the investment climate in the country,” the head of state stated.
He also noted that a significant amount of time is spent on interagency coordination. The government must operate more efficiently and eliminate excessive bureaucracy.
“Lengthy approval and decision-making processes are linked to the reluctance and fear of civil servants to take responsibility. This needs to be addressed directly,” the president emphasized.
Additionally, he mentioned that the government’s efforts in the investment sector need to be strengthened.
“It is evident that the country requires quality investments. Projects based on advanced technologies and aimed at external markets are typically offered by foreign investors. Over the past nine months, the volume of foreign direct investment amounted to $12.7 billion, which is 36% less than the investments made during the same period in 2023,” the president informed.
He pointed out that a decline in the pace of attracting foreign direct investments was observed in the Aktobe, Almaty, Atyrau, East Kazakhstan, Zhambyl, Pavlodar, North Kazakhstan regions, as well as in Almaty. The decrease in private investment is being compensated by budgetary funds.
“In conditions of budgetary constraints, it is necessary to provide an additional set of preferences for conscientious investors offering quality investments. This policy aligns with my strategy aimed at liberalizing the economy. The government needs to create a comprehensive ecosystem that enhances the search, support, and protection of investors at all levels—abroad, in the regions, and at the central level. This policy applies to both foreign and domestic investors. Moreover, investors receiving government support should be required to make reasonable reciprocal commitments regarding job preservation, production modernization, and compliance with environmental requirements,” Kassym-Jomart Tokayev believes.